After that liquid raid to the top side and rejection, I think we will see a bearish order flow seeking rebalance below. We have a weekly RTO structure on the weekly chart resting below 0.81000 flat.
I would like to see the week open with EG taking PDH early on and showing a willingness to sell off. This is backed by my fundamental vision of current economic conditions in the UK and Europe. Of course, it can go either way faster than lightning - I suspect sterling to have a great catalyst with a new king taking the throne as we may see radical fiscal and monetary reform providing a perfect smokescreen for the pound to get rowdy. What does Europe have? Unless a black swan event involving the Ukraine / Russia conflict - not much.
Something tells me we may see some VERY WILD and VERY BIG events unfold in the near future, but I don't know exactly when - this is based on what I see in the charts, and I do believe that the market tells the future if you know what you are looking at.
Trade light, trade smart, move fast, and keep your head down - the last thing you want is to get caught in the BS that will inevitably ensue.
I would like to see the week open with EG taking PDH early on and showing a willingness to sell off. This is backed by my fundamental vision of current economic conditions in the UK and Europe. Of course, it can go either way faster than lightning - I suspect sterling to have a great catalyst with a new king taking the throne as we may see radical fiscal and monetary reform providing a perfect smokescreen for the pound to get rowdy. What does Europe have? Unless a black swan event involving the Ukraine / Russia conflict - not much.
Something tells me we may see some VERY WILD and VERY BIG events unfold in the near future, but I don't know exactly when - this is based on what I see in the charts, and I do believe that the market tells the future if you know what you are looking at.
Trade light, trade smart, move fast, and keep your head down - the last thing you want is to get caught in the BS that will inevitably ensue.